December 31, 2012
Does everyone at the SEC need Ms. Roper's permission to go to the bathroom?
Here is what the rule should say: "To verify that an investor is accredited, an issuer shall be permitted to rely on the investor's written certification that he or she is accredited." Problem solved.
This agency is flouting the law by procrastinating. The Netflix Wells notice is also an embarrassment. The SEC has shown itself to be dysfunctional and should be stripped of all its powers except to prosecute serious fraud.